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The domestic A-share market has had a dismal performance since December 2012. Pen @ fun @ pavilion wWw. ｂｉｑUｇE。 ｉｎｆｏ

In the domestic strange market, I always like to find the reason, and then, it seems that to find the reason, and others don't have to take the blame, and everything will be fine.

After many media and investor appeals, the management began to have to suspend the IPO again.

In fact, the suspension of IPOs is a big mistake, and China's A-share market has a lot of potential companies waiting in line to go public. However, due to the high threshold for listing in the A-share market, many companies have not been able to realize their dream of listing for many years, and have been forced to go public through backdoor listings, or go to the Hong Kong stock market and overseas markets to list.

Although, many Chinese companies that have gone overseas to list have also been listed overseas, there are also garbage companies that have lost their money to overseas investors. However, there are still a bunch of things like NetEase, Tencent, Baidu, etc., which make overseas investment profitable. The rate of return of such a good company to the market is enough to cover the losses caused by the bankruptcy and delisting of 100 garbage companies.

Of course, the threshold for overseas listing is not high, but in fact, when overseas listed Chinese concept stocks are listed, they buy an average of a part of each new stock, and the long-term return is generally amazing.

The listing of a large number of assets overseas is not only detrimental to the overall quality of the A-share market. It is also more detrimental to investors, who have lost the opportunity of 100 baggers and 10 baggers.

In short, there are more rational people in the domestic management who know that the benefits of restarting the IPO outweigh the disadvantages.

Historically, it was originally not until January 2014 that A-shares restarted their IPO. And now it has been brought forward, mainly because the management wants to throw bricks and stones, hope to list high-quality assets, and restore investors' confidence in the market.

The overall development speed of the small partner system is definitely among the best in China, which makes people, even if the small partner cinema is not the best quality Internet and technology assets of the small partner department, but the authentic small partner concept is listed, there should be a huge space for hype.

Of course, the A-share market was not too prosperous in early May 2013. The index continues to hit new lows. At present, the Shanghai Composite Index is only more than 2,200 points, the Shenzhen Composite Index is more than 9,000 points, and the small and medium-sized board index has stabilized from the bottom of 3,500 points and is about to hit the 5,000-point mark. in the next few years. The small and medium-sized board will be above 12,000 points.

As for the GEM, which is regarded as the most fashionable and dazzling, in 2012, it once fell to 585 points, and at present, the GEM index is still below 1,000 points. Of course. According to the current old vision, even 1,000 points on the GEM is full of bubbles.

Now restarting the IPO and asking for directions with the partner cinema chain, in fact, it is not conducive to maximizing the interests of the partner cinema chain.

Maximizing profits should be at the end of the bull market, and it should be listed at the time of the largest bubble, at this time, it can often allow listed companies to circle the most money and obtain the highest valuation. Of course, it is equivalent to throwing a bomb on the market.

However, even if it is listed in a bear market, the price sold by the small partner theater is not a loss, and the benefits obtained are also very large.

Not to mention anything else, just after going public, getting shell resources for free is very valuable. At present, the companies listed on the main board of A-shares have a conservative estimate of 1.5 billion ~ 2 billion yuan of shell resources.

To put it simply, after the small partner cinema is launched. Aside from the funds raised, in fact, the value of shell resources alone can increase the value of shell resources by 1.5 billion yuan for the small partner cinema line. Though. In terms of the scale of the small partner cinema company, the value-added of shell resources is not of great significance.

Unlike some small companies, the asset size is not much, in fact, the main part of the company's valuation is shell resources.

To put it simply. The listing of the small partner theater is not a very good time. In a bear market, companies will not receive much financing, and it is difficult to obtain higher valuations.

In the long run, being able to be listed on the A-share market will definitely take a big advantage!

You don't see, many Chinese companies listed overseas often take the initiative to redeem their shares and delist, because overseas listing is not very helpful to enterprises, shell resources are worthless, and it is relatively difficult to issue additional financing. Moreover, if many companies are neglected and ignored after overseas listing, the stock price can fall to less than 5% of net assets at the lowest, and at worst it can fall to 1% off the price of net assets. Normally, when a company's share price is lower than its net worth, the company's boss has an incentive to buy back and privatize the company. If the discount is too much, there is too much room for redemption and privatization arbitrage, and the boss of the enterprise must be foolish if he does not redeem the shares.

Domestic listings are rarely too much lower than net assets, and most companies will receive a relatively large premium in most cases. In this case, who wants to be privatized and delisted?

Moreover, although the threshold for listing in the A-share market is high, the threshold for secondary financing is lower than that of the U.S. stock market. As long as it is listed, it will be very convenient to issue new shares or issue convertible bonds for financing in the future. In addition, there are new financing methods such as pledging the equity of listed companies to obtain loans.

To put it simply, if you are listed on the A-share market, you will definitely not be fooled and will not suffer losses. Much better than most markets around the world.

But the A-share market is not something you want to go on!

Ordinary enterprises that want to be listed on the A-share market may not be qualified. Even if you are qualified, if you are unlucky, you may not be able to get on.

The main reason why the companies under the small partners can be listed is that the small partners belong to star enterprises, and star enterprises are popular assets in most capital markets around the world.

The management of the A-share market also does not want the small partners to take high-quality assets overseas to be listed.

Small partner cinema line, listed companies are referred to as "cinema line holding", because the Chinese name of A-share listed companies is generally within four characters, so only the most representative words can be streamlined and extracted in the company name. Normally, it is a company name of about three or four words.

As for the stock code, it's even more bizarre - 002739!

Historically, this representative was originally the code for the listing of Wanda Cinemas, but now there are no Wanda Cinemas. But the history is strikingly similar, and this representative was inherited by the small partner theater.

Moreover, the listing of the small partner cinema line is far earlier than the listing of Wanda cinema line.

This is mainly because the small partner cinema is an enhanced version of Wanda Cinema, and the scale is far from comparable to the Wanda cinema chain in history.

Moreover, the code of listed companies is a scarce resource, and it is listed at a similar time, and this code has not been selected by Wanda, so there is naturally a high probability that it will become the code of the small partner cinema. (To be continued.) )